Leeds buy out stalls as new American offer emerges
Daily Star 30/9/12
By Adrian Stiles
MIDDLE EAST company GFH Capital are facing more frustration as they bid to seal their £52million buy-out of Leeds.
The Bahrain investment firm believed they were close to completing a takeover of the Yorkshire outfit after talks with United owner Ken Bates last week.
But now they are in a fight to see off potential challenges in their bid to seize control of the Championship club by buying up Bates’ 72.85 per cent stake.
The sale has stalled because would-be buyers from Saudi Arabia and the United States are poised.
There was growing confidence that the deal between Bates and GFH Capital was about to be finalised.
But now there is a very real prospect of counter offers surfacing following the appearance of American investors in the Elland Road directors’ box at the Championship clash with Yorkshire rivals Hull 12 days ago.
By Adrian Stiles
MIDDLE EAST company GFH Capital are facing more frustration as they bid to seal their £52million buy-out of Leeds.
The Bahrain investment firm believed they were close to completing a takeover of the Yorkshire outfit after talks with United owner Ken Bates last week.
But now they are in a fight to see off potential challenges in their bid to seize control of the Championship club by buying up Bates’ 72.85 per cent stake.
The sale has stalled because would-be buyers from Saudi Arabia and the United States are poised.
There was growing confidence that the deal between Bates and GFH Capital was about to be finalised.
But now there is a very real prospect of counter offers surfacing following the appearance of American investors in the Elland Road directors’ box at the Championship clash with Yorkshire rivals Hull 12 days ago.
